The Philippine Statistics Authority (PSA) and Ateneo de Manila University are collaborating to promote the National ID Authentication Services (Nidas) for customer verification in banks. This initiative was highlighted during a recent forum focused on enhancing access to financial services.
Enhancing Financial Access Through Secure Identification
For many Filipinos, access to financial services starts with one essential need: a trusted way to prove their identity.
Atty. Henedine P. Palabras, PSA Officer-in-Charge
Held earlier this month, the National ID Forum gathered 45 representatives from banks and BSP-supervised financial institutions. This engagement aligns with the Bangko Sentral ng Pilipinas' (BSP) plans to encourage banks to integrate their verification systems with the National ID database.
- Nidas facilitates identity verification using National ID records.
- It supports Know Your Customer (KYC) compliance for financial services.
The forum featured discussions on the workings of Nidas and methods for banks to integrate their systems effectively. Ateneo faculty member Gerald G. Divinagracia presented a KYC process map, while Richard P. Lozada from the Technical Resource Lab introduced an AI-enhanced National ID validation tool.
This advocacy comes at a time when financial institutions are increasingly adopting the National ID for customer services. On August 27, the PSA announced a partnership with Bank of the Philippine Islands (BPI), allowing customers to verify their identities and open accounts using a selfie linked to their National ID records.
The PSA is committed to collaborating with financial institutions and government agencies to expand the use of Nidas, ultimately promoting safer digital transactions and improving access to financial services across the country.